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Rayo, who are based in Madrid, will play in the Segunda Division this season after being relegated from La Liga last season.

Notable names among the Rayo ranks are Razvan Rat - formerly of West Ham - and ex-Hull and Manchester United forward Manucho.

Executive Director of Football Les Reed said:

“Paulo is a very popular player at the club and has developed steadily since his move from Gillingham, never letting us down when he has been called upon.

“He is now at the point where regular competitive football is required for him to progress to the highest level. Playing regularly for Rayo Vallecano will provide invaluable experience for him.

“Rayo Vallecano is a progressive club, who are making a serious challenge to return to La Liga this coming season. Playing in Spain will also be valuable to Paulo in years to come when we hope he will be involved in regular European football.

“While Paulo has experienced junior football in his native Argentina and top-flight football in England, another culture and style will help him develop to his true potential.

“We also hope this will be the start of an ongoing relationship with the club and maybe we will see some of our budding outfield players getting a taste of the continent in years to come.

“While Harry Lewis has demonstrated his potential during the club’s pre-season camps, and we have some outstanding goalkeeping talent in the Academy, we are on the search for a new number two between the posts to compliment Fraser [Forster], and there are some interesting options on our target list.”